Brief: FACC H1 EBIT Down At EUR -36.9 Mln

FACC AG

20/08/2020 07:05

Aug 20 (Reuters) - FACC AG  FACC.VI :
    * REVENUES OF EUR 292 MILLION (- 26 %) IN FIRST HALF 2020,
DUE TO
LOWER DEMAND IN Q2 AS A RESULT OF COVID-19 CRISIS
    * EBIT BEFORE IMPAIRMENT STOOD AT EUR 0.5 MILLION IN FIRST
HALF OF
YEAR
    * EBIT IN FIRST SIX MONTHS OF 2020 DECREASED TO EUR -36.9
MILLION
(COMPARATIVE PERIOD 2019: EUR -5.2 MILLION)
    * OUTLOOK 2020: FULL-YEAR REVENUE FORECAST AT AROUND EUR 500
TO
520 MILLION
    * AS REGARDS EARNINGS, MANAGEMENT IS ANTICIPATING 2020 EBIT
IN
RANGE OF EUR -55 TO -65 MILLION
    * FOR FOLLOWING YEARS, MANAGEMENT ASSUMES THAT 2021
FINANCIAL YEAR
WILL REMAIN AT LEVEL OF 2020
    * WE WILL RETURN TO OUR PRE-CORONA LEVELS IN FOUR TO FIVE
YEARS
    * FROM 2022 ONWARDS, IT IS EXPECTED THAT RENEWED GROWTH WILL
OCCUR
IN LINE WITH MARKET DEVELOPMENT OF PROGRAMS ESSENTIAL FOR FACC
AND THAT ADDITIONALLY PLANNED NEW PROJECTS WILL ENSURE GROWTH

Source text for Eikon:  ID:nAPA9qgFrC 
Further company coverage:  FACC.VI 

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